Agility Q32023 net profit doubles, revenue up 41%

Q3 net profit was favourably affected by a one-off gain as a result of closing an interest rate hedge. While EBITDA increased 28% to KD 58.7 million, revenue was up 41% to KD 360.8 million. For the first nine months of 2023, Agility’s net profit was KD 57.5 million, an increase of 39%, EBITDA increased 54% and revenue almost doubled compared to the same period in 2022.

Menzies Aviation reported revenue of KD 175.2 million and EBITDA of KD 25.7 million, increases of 66% and 50%, respectively, over the same period last year. Menzies benefitted from the post-pandemic recovery. Passenger flights to and from Europe, the Americas and the Middle East are back to pre-pandemic levels whereas traffic in Southeast Asia and Australia is steadily recovering. Volume in Africa remains below pre-Covid levels.

The results from our operating businesses continue to be positive, and a testament to the global growth strategy pursued by the company. In terms of our investments segment, global equity markets paused and reversed in the third quarter of the year, and we can see that reflected in our results. Agility takes a long-term view of its investments: Tarek Sultan, Agility

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